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ODA 9 – Why RE Agents Like Open Auctions

The old-fashioned real estate industry is genetically flawed. It pits agent against seller in a paranoid alliance guaranteed to make both sides feel like they got a raw deal. Is this any way to run a business? At Open Door Auctions, we think not.

We’ve dedicated a fair amount of recent energy to educating sellers on the benefits of our two-week sales process. The funny part is that your real estate agent, if she’s honest with herself, should prefer our method also. Think of the deal from her point of view. Of course she wants to sell your house and earn a commission, but the truth is that she has no idea how long it might take to find a buyer – if ever. Even the most jaded sellers should realize why the average real estate agent is hesitant to commit herself to endless marketing and promotion of their houses. What if she slaved over that one single listing for month after month and, despite her best efforts, it simply would not sell? Talk about mind-bending frustration!
She would soon be a starving salesperson, perhaps through no fault of her own. Sometimes houses simply don’t generate any demand, no matter how low the price goes. However, the agent who decides to work with the Open Door Auctions team will feel like she has a new lease on life. She can dedicate her efforts entirely to marketing the seller’s house, because she knows the whole thing will be over in two weeks. At that point, the seller either accepts an offer or goes back to the traditional real estate sales mess. Of course, she could repeat the two-week process – but we don’t really recommend it. The market has already revealed what it thinks the house is worth. If you don’t agree, running it through again so quickly probably won’t change much, unless a fluke buyer walks in.
But as a seller you should be able to see why a real estate agent loves our auction process. Properties move fast, and her chances for earning commissions more rapidly increase greatly. A commission- earning agent is a happy agent, and a happy agent will work harder for you.